| May 14, 2024

(Associate) Portfolio Officer

Guest Author

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Website International Finance Corporation

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

Within IFC, the Corporate Portfolio Management (CPM) Department, under the IFC Vice President of Global Industries, is responsible for the oversight and monitoring of the debt and equity portfolios at a corporate level, and works to provide an efficient operating model and tools through the Operational Support Unit and the Systems and Data team.

CPM has created a small team of Portfolio Analysts/Officers providing support to regional industry teams on matters related to equity and derivatives valuation, documentation of product features, methodological consistency, etc.

Duties and Accountabilities

Operations support

Products and Features in IFC’s Equity Systems:

•  Liaise with Investment Accounting Review Services to obtain their accounting review results which highlight options that need to be tracked and ensure that IFC’s Equity Systems are set up accordingly in coordination with other relevant stakeholders
•  Ensure that the right issues/repeat investments are properly documented at the commitment stage

Listed equities

•  Track corporate actions recorded in Equity and Custody Operations and follow up with responsible Investment Officers to process such corporate actions on time

Other corporate events

•  Work with responsible Investment Officers and report any corporate events to the Investment Accounting and Review Services and Investment Valuations units.
•  Upon Investment Accounting and Review Services issuing accounting conclusion on corporate events, follow up with responsible Investment Officers to implement the conclusion and provide system/process support related IFC’s Equity Systems

Ownership Percentage

•  Ensure responsible investment teams provide share certificates to Equity Custody and Operations
•  Verify IFC’s ownership percentage in IFC’s Equity Systems

Upon commitments, disbursements, and equity sales:

•  Set up or update valuations in IFC’s Equity Systems

Equity Valuation Quality Control

Initial review of valuation updates focusing on the following:

Discounted Cash Flows (DCF)

•  Ensure macro assumptions are consistent with IFC’s macroeconomics research and analytics team
•  Ensure availability of documentation on:
o  Whether the forecast is on a real or nominal basis
o  Basis and sources of the key inputs re business assumptions, WACC calculation components, etc., including uploading relevant documentation into IFC’s Equity Systems
•  Ensure that models are free of mistakes
•  Ensure that assumptions used in specific sub-sectors/countries are consistent across relevant portfolios

Relative methods

•  Assess the rationale for the selection of multiples and comparators

Liquidity Discount

•  Follow the liquidity discount framework and look for consistency across valuations

Application of other methodologies are:

•  Consistent with relevant policies and procedures
•  Properly documented

IFC Asset Management Company

•  Ensure support functions applied to IFC’s direct investments are consistently applied to AMC investments

 

 

Selection Criteria

•  MBA or a Master’s degree preferably in Finance/MIS with 3 or more years of relevant experience in economics, finance and/or related fields;
•  Strong analytical and quantitative skills, practical problem-solving abilities, and resourcefulness in performing varied tasks.
•  Knowledge of IFC operations and portfolio would be a plus.
•  Extensive experience and knowledge of Microsoft Excel; previous training/experience in basic programming and econometric packages; and more importantly, a proactive attitude towards learning new systems, programming languages, databases and packages.
•  High level of attention to detail and capacity to deliver high-quality work.
•  Ability to analyze information/system process requirements and translate them into design specifications for process changes and/or automated solutions.
•  Ability to thrive under pressure and function effectively while managing multiple tasks simultaneously.
•  Excellent people skills and ability to work successfully in multicultural teams and across boundaries. Ability to adapt to fast changing environment.
•  Demonstrated written and verbal communication skills in English; other foreign language skills are a plus.

 

 

 

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To apply for this job please visit worldbankgroup.csod.com.